Calima Energy Ltd (ASX:CE1) has spudded the second well (Pisces #2) after successfully drilling the first well (Pisces #1) of its two-well horizontal Glauconitic (GLCC) drilling campaign at the core Brooks area in Alberta, Canada.
Calima drilled the Pisces #1 well in 6 days to 2,610 meters measured depth (mMD).
About 1,400 metres of the well was horizontal in the Glauconitic Formation with well logs indicating reservoir quality as expected and oil and gas shows as prognosed.
Following the drilling, a frac liner consisting of 30 frac ports was installed in the horizontal section.
Pisces #2 well has commenced drilling off the same drill pad as #1 and is an extended reach well planned for 4,300 mMD, resulting in about 3,000 metres within the GLCC horizontal section.
In early January, the two wells will undergo multi-stage frac stimulation and then be tied-in to existing infrastructure and facilities.
Calima is expecting to commence production in mid-February 2022.
“Very pleased with the nature of the oil and gas shows”
Calima CEO and president Jordan Kevol said: “The drilling of our first well in the Pisces program went very well.
“Spud to rig release in just under 6 days is excellent.”
“Our geological team was very pleased with the nature of the oil and gas shows in the well while drilling.
“We are excited for Pisces #2, as it is an extended reach well, and is to be drilled in the same Glauconitic channel as Pisces #1.”
About Calima Energy
Calima Energy’s business strategy is counter-cyclical, designed to take advantage of momentum returning to the oil and gas sector after the savage downturn in global oil and gas prices that started in 2014.
The company’s core asset lies within a liquids-rich sweet spot of the Monetary Formation in northeast British Columbia where it has been able to covert around 60% of its total 63,000 acres holding to 10-year lease through a successful exploratory drilling program.
Calima also recently merged with Blackspur Oil Corp, a privately held Canadian company producing oil and natural gas assets in two core areas within Alberta - at Brooks and Thorsby.